Dominion Can Live to Fight Another Day

Mining and Exploration
22/05/2020 15:25

According to a Business Wire news release, Canadian miner Dominion has signed a letter of intent with an affiliate of the Washington Companies to sell all of Dominion's assets for approx. US$126 million, and has made an agreement for up to US$60 million in short-term financing from Washington. In April, Dominion filed for and obtained insolvency protection under the CCAA. The agreements will allow Dominion to resume operations at the Ekati mine and meet obligations owed to employees.